Mexco Energy Corp. operates as an independent oil and gas company, which engages in the acquisition, exploration, development, and production of natural gas properties and crude oil. The firm focuses on the Midland Basin located in Eastern portion of the Permian Basin including Reagan, Upton, Midland, Martin, Howard, and Glasscock Counties; and Delaware Basin located in the Western portion of the Permian Basin including Lea and Eddy Counties, New Mexico, and Loving County. The company was founded in April 1972 and is headquartered in Midland, TX.
We had a net loss of $12,946 for the year ended March 31, 2019 compared to a net loss of $321,489 for the year ended March 31, 2018. This is primarily the result of a decrease in operating expenses and interest expense as further explained below.